Hires rate down in May 2008
July 10, 2008
The hires rate for the total nonfarm sector decreased significantly over the month to 3.1 percent in May 2008, the lowest point since June 2003. The rate in April 2008 was 3.4 percent.
After four months of no significant over-the-month changes in any industry, the hires rate fell between April and May for the total private sector, construction, and trade, transportation, and utilities, as well as total nonfarm.
The hires rate is the number of hires as a percent of total employment. Hires are any additions to the payroll during the month.
These data come from the Job Openings and Labor Turnover Survey. The above data are seasonally adjusted. Data for May 2008 are preliminary and subject to revision. Find additional information in "Job Openings and Labor Turnover: May 2008," (PDF) (HTML) news release USDL 08-0942.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Hires rate down in May 2008 on the Internet at http://www.bls.gov/opub/ted/2008/jul/wk1/art04.htm (visited April 26, 2015).
Recent editions of Spotlight on Statistics
New estimates of personal taxes in Consumer Expenditure Survey
In 2013, the Consumer Expenditure Survey improved its personal tax data.
Trends in long-term unemployment
Long-term unemployment reached historically high levels following the recession of 2007–2009.
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.